SVG Will Benefit From New Regional Partnership Strategy

The World Bank Groups Board of Executive Directors today endorsed the new Project entitled “Laying The Foundation For Sustainable And Inclusive Growth”.

The project is targeting OECS States for the period 2015-2019, and is focused on creating the conditions for sustainable and inclusive growth in SVG, Antigua and Barbuda, Dominica, Grenada, St Kitts and Nevis, and St Lucia.

The Bank says the new strategy proposes a lending program of about 120 million US dollars for the period and, in addition, includes an allocation of about 92 million US dollars for SVG, Dominica, Grenada, and St. Lucia from the International Development Association (IDA),

This arm of the World Bank Group that provides interest-free credits and grants to the world’s poorest countries as well as many small island developing states.

Governor of the Eastern Caribbean Central Bank Sir Dwight Venner has been quoted as saying that this World Bank Group Regional Partnership Strategy, in its effort to promote growth, quite rightly focuses on regional integration and on the importance of coordination within the region and with the international financial institutions